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life insurance

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woodman Guest	Posted: Mon Apr 18, 2011 6:04 am    Post subject: life insurance Like 0 Dislike 0 My husband died and we still have a huge mortgage. We are upside down on the property and i was thinking of letting it go. Can the mortgage company take my life insurance my husband left me in order to pay off the loan. My name is NOT on the mortgage loan or deed. _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Apr 18, 2011 9:58 pm    Post subject: Like 0 Dislike 0 Hi woodman! Welcome to forums! The lender has the rights to foreclose the property if you don't make the payments on time. He can take your husband's life insurance policy in order to recover the balance amount resulting from the foreclosure sale. Feel free to ask if you've further queries. Sussane
raymond Community Expert Joined: 03 Jul 2009 Posts: 1191 Location: Irvine, California 28.24 Dollars($)	Posted: Sat Apr 23, 2011 12:33 pm    Post subject: Like 0 Dislike 0 >>Can the mortgage company take my life insurance my husband left me in order to pay off the loan. No. _________________ Raymond Denton www.RaymondDenton.com

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